Morarjee Textiles Limited has informed the Exchange about Corporate Insolvency Resolution Process
MORARJEE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Minute windows have no benchmark: there is no intraday index history to compare against.
Morarjee Textiles Limited has received approval from the National Company Law Tribunal (NCLT), Mumbai Bench for its Resolution Plan submitted by Shriniwas Spintex Industries Private Limited. The approval was pronounced on May 11, 2026, under Section 31 of the Insolvency and Bankruptcy Code, 2016. The company had been under Corporate Insolvency Resolution Process (CIRP) since February 2024, initiated by NCLT order in CP(IB) No. 1318/MB-VI/2022. The Committee of Creditors had earlier approved the resolution plan on April 3, 2025. The formal Approval Order is yet to be published by the Adjudicating Authority.
This marks a significant positive development as the company moves toward exiting insolvency proceedings. Shareholders should note that the resolution plan may involve changes to the company's capital structure and could impact existing equity holdings. The formal publication of the order is awaited.